Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.
Sagot :
Answer:
960
Step-by-step explanation:
I used a calculator but its 3% of $8,000 (which I'm pretty sure is 8,000 divided by 3) x 4 so in that's 240x4 which equals 960. Hope this helps have a good day!
Answer:
$960
Step-by-step explanation:
Simple interest is interest that goes up the same amount each period. The formula for simple is A=P(1+rt), where is A is the total amount, P is the principal (aka initial amount), r is the rate (in decimal form), and t is the time.
So, to solve we can use the equation, A=8000(1+0.03*4). In this equation A=8960, meaning that in 4 years the total amount owed, including the initial loan, will be $8960. Since the difference between the principal and the total amount is 960, $960 is the amount paid in interest.
Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.